CubeSmart $CUBE Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its holdings in shares of CubeSmart (NYSE:CUBE) by 50.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 27,806 shares of the real estate investment trust’s stock after selling 27,800 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in CubeSmart were worth $1,045,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. D.A. Davidson & CO. lifted its stake in shares of CubeSmart by 7.2% in the third quarter. D.A. Davidson & CO. now owns 67,007 shares of the real estate investment trust’s stock worth $2,518,000 after acquiring an additional 4,481 shares during the period. Total Wealth Planning & Management Inc. lifted its stake in shares of CubeSmart by 2.6% in the 3rd quarter. Total Wealth Planning & Management Inc. now owns 18,384 shares of the real estate investment trust’s stock valued at $691,000 after purchasing an additional 466 shares during the period. Signaturefd LLC lifted its stake in shares of CubeSmart by 37.0% in the 3rd quarter. Signaturefd LLC now owns 4,326 shares of the real estate investment trust’s stock valued at $163,000 after purchasing an additional 1,168 shares during the period. MBL Wealth LLC bought a new stake in shares of CubeSmart during the 3rd quarter valued at about $316,000. Finally, Root Financial Partners LLC acquired a new stake in CubeSmart during the third quarter worth approximately $65,000. Institutional investors and hedge funds own 97.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank Of Canada restated an “outperform” rating and set a $47.00 price target on shares of CubeSmart in a report on Tuesday, August 4th. Weiss Ratings restated a “hold (c)” rating on shares of CubeSmart in a research note on Tuesday, October 13th. Truist Financial started coverage on CubeSmart in a research note on Friday, October 2nd. They set a “buy” rating and a $41.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of CubeSmart from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. Finally, Raymond James Financial assumed coverage on shares of CubeSmart in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $44.00 price objective on the stock. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, CubeSmart currently has an average rating of “Hold” and an average price target of $43.27.

CubeSmart Stock Performance

Shares of CubeSmart stock opened at $45.38 on Friday. The business’s fifty day simple moving average is $39.49 and its 200 day simple moving average is $39.70. The company has a current ratio of 0.06, a quick ratio of 0.07 and a debt-to-equity ratio of 1.42. CubeSmart has a 12 month low of $35.09 and a 12 month high of $46.41. The firm has a market capitalization of $10.14 billion, a P/E ratio of 30.05, a price-to-earnings-growth ratio of 7.29 and a beta of 0.98.

CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, October 29th. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.23). The business had revenue of $293.97 million for the quarter, compared to the consensus estimate of $287.28 million. CubeSmart had a return on equity of 13.15% and a net margin of 30.17%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 earnings per share. As a group, analysts anticipate that CubeSmart will post 2.59 EPS for the current year.

Insider Activity

In other news, insider Jeffrey Foster sold 22,776 shares of the company’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $43.72, for a total transaction of $995,766.72. Following the transaction, the insider owned 205,057 shares of the company’s stock, valued at $8,965,092.04. This represents a 10.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.76% of the stock is currently owned by insiders.

CubeSmart Company Profile

CubeSmart (NYSE: CUBE) is a self-administered and self-managed real estate investment trust that owns, operates and manages self-storage facilities in the United States. The company provides storage space for households, businesses and other customers through a portfolio serving metropolitan areas and communities across the country.

Its facilities offer a range of storage options, including traditional and climate-controlled units, as well as space for vehicles, boats and recreational vehicles at select locations.